News

Board Update Mar ’24 – Apr ‘24

Published Mon 20 May 2024

The Singapore Gymnastics Board continues to unveil enhancements in governance and policies aimed at increasing the transparency of the system. These improvements are reflected in the board’s monthly meetings held in March and April 2024. 

At the March Board meeting Richard Gordon from SportSG/SSI presented to the Board the objectives of the National Sporting Association (NSA) and the function of the National Training Centre for high performance outcomes of an NSA.

 Compliance Review: The Board examined the present compliance register, verifying that all deadlines and organisational compliance requirements have been met.

Thematic Audit: A Thematic Audit is currently in progress. The common questions from the Auditor will be compiled for the Board. The focus of the audit has been around HR processes, procurement and funding utilisation.

Conflict of Interest:  The board reviewed the Conflict of Interest Register, and a detailed discussion ensued regarding the definition and significance of understanding Conflict of Interest (COI) for Directors. Conflict of Interest (COI) arises when a director or their Immediate Family Member acquires a personal or financial interest that undermines their ability to make independent judgments as a Director for Singapore Gymnastics. Recognising scenarios where personal interests could sway objective decision-making is paramount.
Furthermore, the Board underscored the importance of reminding National office staff about Conflict of Interest (COI) protocols. It was highlighted that staff members are already required to declare COIs annually.

Financial Update: Financial statements up to December 31, 2023, were reviewed. The forecast anticipates a surplus due to the 2023 Artistic Asian Championships if the fundraising targets are met, with detailed analysis provided to Directors.

Strategic Planning: The initiation of the Strategic Plan 2026-2029 is slated to commence in July. The primary focus will be on aligning SportSG's objectives and ensuring the continuity of the existing plan, while also maintaining its stability amidst any potential leadership transitions during the period.

Fundraising:
Cartwheel-a-thon: Updates on the Cartwheel-a-thon fundraising activity were shared, highlighting the success of the community participation and the current financial outcome.
FY24/25: The Board discussed the fundraising targets for FY24/25, the types of possible activities and the possibility of outsourcing the activity to increase the reach and financial success of the event, while decreasing the risk to SG.

Anti Money Laundering (AML) Measures and Compliance:  The Board deliberated on the necessity of establishing a monetary threshold for scrutinizing donations and funds received, ensuring compliance with Anti-Money Laundering (AML) regulations. It was emphasized that there should be no direct acceptance of cryptocurrency or digital assets, and instead, established AML processes or platforms should be utilized for receiving funds.

Annual Awards: The Board discussed the long-term plan and how the Annual Award ceremony could be enhanced as an important and prestigious gymnastics community event. Possible format improvements are being discussed  and will be open for feedback. The 2023 Annual Awards will occur once again in the BlackBox in June 2024 and will be further enhanced from previous years.

Events Working Group: The National Office presented to the Board the Events Working Group that will be established to bolster event organisation and volunteer management for the major national events.

General Matters: During the Board meetings, several general matters were addressed, including the appointment of HRnet One as the recruitment agency for the General Manager position, and the approval of selection policies for RG.

In summary, these meetings underscore the Board’s commitment to enhance governance and strategic planning, highlighting Singapore Gymnastics’ steadfast dedication to transparency, compliance, and forward-thinking strategies in pursuit of its objectives. 

 Amended Policies approved:

        P001 Antidoping Policy

        P023 National Squad Policy

Selection Policies Approved:

        29th International Rhythmic Gymnastics Tournament-Garcia Fair Cup, Budapest (HUN)

        FIG World Challenge Cup Cluj-Napoca (ROU)

        FIG World Cup Milan (ITA)

        2024 TRA Asian Championships Selection

        TRA COIMBRA GYM FEST 2024 Selection Policy.

        TRA SCALABIS CUP 2024 Selection Policy.

 


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